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Jon Andrews, Certified Public Accountant (CPA)

Category: Tax

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i am a diesel mechanic at a ford dealership. i am wondering

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i am a diesel mechanic at a ford dealership. i am wondering how to deduct my tool purchases. i have purchaced a new tool box from my mac tools dealer for $10800.00 and $1500.00 of other hand tools. i have only paid about 3600.00 this year. can i deduct total that i have paid or can i deduct the amount that i purchased?

If you are making payments to the Mac tool person/company, you can only deduct the amount that you have actually paid. Unless you have some "side business" income, you will only be able to report this as an employee business expense deductible as a miscellaneous itemized deduction on Schedule A.

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. OrvilleHesperia, California

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